Canadian Dollar Tags Early December Pivot
Prepared by Jamie Saettele, CMT
The USDCAD traded just under its January low of 10075 today and also reached the -2nd standard deviation band for the first time since the October low (10/27). Pattern at this point lacks clarity but an intraday key reversal (240 minute bar that ended at 13:00) warrants a cautious bullish bias as long as price is above 10050. Upside levels of interest are 10175 and 10220.
Bottom Line – flat
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